MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 47,357 Shares of Copart, Inc. $CPRT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Copart, Inc. by 6.8%, acquiring an additional 47,357 shares, bringing its total holdings to 743,070 shares valued at approximately $42 million.
• CEO Jeffrey Liaw sold 24,088 shares of Copart, representing a 43.31% decrease in his position, with the transaction valued at over $1.1 million.
• Analysts have mixed ratings for Copart's stock, with average price targets ranging from $46 to $62, indicating a consensus "Moderate Buy" outlook.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 743,070 shares of the business services provider's stock after buying an additional 47,357 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.08% of Copart worth $42,049,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CPRT. Cloud Capital Management LLC acquired a new position in Copart in the first quarter valued at approximately $26,000. Sunbelt Securities Inc. acquired a new position in Copart in the fourth quarter valued at approximately $31,000. Accent Capital Management LLC acquired a new position in Copart in the first quarter valued at approximately $36,000. Financial Network Wealth Advisors LLC lifted its holdings in Copart by 152.6% in the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock valued at $44,000 after buying an additional 473 shares during the period. Finally, SouthState Corp acquired a new position in shares of Copart during the 1st quarter worth about $45,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.68% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CPRT shares. HSBC set a $62.00 target price on Copart and gave the stock a "buy" rating in a research report on Thursday. Robert W. Baird decreased their price objective on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. Hsbc Global Res upgraded shares of Copart from a "hold" rating to a "strong-buy" rating in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, Stephens decreased their price objective on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $54.50.

Copart Stock Performance

Shares of CPRT opened at $48.57 on Friday. The stock has a 50 day simple moving average of $47.47 and a 200 day simple moving average of $52.77. Copart, Inc. has a 52-week low of $45.05 and a 52-week high of $64.38. The firm has a market capitalization of $46.96 billion, a PE ratio of 30.36 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. Copart had a return on equity of 18.65% and a net margin of 33.41%.The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the firm earned $0.33 EPS. Copart's quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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